Intuitive Machines (NASDAQ:LUNR) Given New $10.50 Price Target at Bank of America

Intuitive Machines (NASDAQ:LUNR) had its target price reduced by equities research analysts at Bank of America from $16.00 to $10.50 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s price objective would indicate a potential downside of 17.74% from the stock’s current price.

LUNR has been the topic of several other reports. Canaccord Genuity Group increased their price objective on shares of Intuitive Machines from $21.00 to $21.50 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Barclays began coverage on shares of Intuitive Machines in a report on Thursday, May 22nd. They set a “neutral” rating on the stock. B. Riley reaffirmed a “buy” rating on shares of Intuitive Machines in a report on Tuesday, March 25th. Benchmark reaffirmed a “buy” rating and set a $16.00 price target on shares of Intuitive Machines in a report on Tuesday, March 25th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Intuitive Machines in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.44.

Intuitive Machines Price Performance

LUNR stock traded up $0.52 during trading on Wednesday, hitting $12.77. 2,636,558 shares of the stock traded hands, compared to its average volume of 13,052,824. Intuitive Machines has a 1 year low of $3.15 and a 1 year high of $24.95. The firm’s 50 day moving average is $11.06 and its two-hundred day moving average is $12.62. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -4.72 and a beta of 1.41.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.10). The company had revenue of $62.52 million for the quarter, compared to the consensus estimate of $66.07 million. As a group, analysts anticipate that Intuitive Machines will post 0.73 EPS for the current fiscal year.

Insider Activity at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 161,016 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $12.10, for a total value of $1,948,293.60. Following the transaction, the director owned 3,494,768 shares in the company, valued at $42,286,692.80. This represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Peter Mcgrath sold 72,168 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $12.00, for a total transaction of $866,016.00. Following the sale, the chief financial officer owned 366,824 shares in the company, valued at approximately $4,401,888. The trade was a 16.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,946 shares of company stock worth $4,269,089 in the last quarter. Company insiders own 39.75% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Intuitive Machines during the 4th quarter worth approximately $44,000. Rossby Financial LCC bought a new stake in shares of Intuitive Machines during the first quarter valued at approximately $67,000. Sigma Planning Corp bought a new stake in shares of Intuitive Machines during the first quarter valued at approximately $78,000. Park Avenue Securities LLC bought a new stake in shares of Intuitive Machines during the first quarter valued at approximately $81,000. Finally, Philadelphia Trust Co. raised its position in shares of Intuitive Machines by 10.0% during the first quarter. Philadelphia Trust Co. now owns 11,000 shares of the company’s stock valued at $82,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.